TWO DAYS AT SEA II7 Morocco. But, on its passage lies the Azores, about three thousand miles from America. Does the dda intend to make for this archipelago? is its destination one of the islands which form the insular possessions of Portugal? I cannot admit that hypothesis. Besides, nearer than the Azores, on the line of the thirty- fifth parallel, at a distance of twelve hundred kilometers only, the Bermudas are situated. They belong to Eng- land, and it seems to me. less improbable that if the Count is in the pay of a European power, that power should be the United Kingdom of Great Britain and Ireland. Of course there is always the possibility that this mysterious individual is acting in his own interests only. Several times during the day the Count came and stood inthestern. From thence he closely examined the different points of the horizon. When a sail or smoke appeared in the distance, he watched it for a long time through a powerful sea glass. I may add that he did not even deign to notice my presence on the deck. From time to time Captain Spade joined him, and they exchanged some words in a language I neither under- stood nor recognized. It is with Serko, the engineer, who seems to be in his confidence, that the owner of the 4éda converses most readily. He is rather loquacious, less repellent, less reserved, than his companions on board. How does Serké come to be on the schooner? Is he a special friend ot Count d’Artigas? Does he travel about with him, sharing the enviable existence of a rich yachtsman?